On April 26, 2023 at 13:05:26 ET an unusually large $281.01K block of Put contracts in Phillips 66 (PSX) was sold, with a strike price of $92.50 / share, expiring in 51 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.23 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in PSX options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 2471 funds or institutions reporting positions in Phillips 66. This is an increase of 153 owner(s) or 6.60% in the last quarter. Average portfolio weight of all funds dedicated to PSX is 0.30%, a decrease of 13.60%. Total shares owned by institutions decreased in the last three months by 0.81% to 367,369K shares. The put/call ratio of PSX is 0.85, indicating a bullish outlook.

Analyst Price Forecast Suggests 29.62% Upside

As of April 24, 2023, the average one-year price target for Phillips 66 is $128.74. The forecasts range from a low of $111.10 to a high of $148.05. The average price target represents an increase of 29.62% from its latest reported closing price of $99.32.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Phillips 66 is $145,981MM, a decrease of 14.12%. The projected annual non-GAAP EPS is $14.16.

What are Other Shareholders Doing?

Campion Asset Management holds 5K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing a decrease of 3.23%. The firm increased its portfolio allocation in PSX by 16.02% over the last quarter.

RTDAX – Multifactor U.S. Equity Fund holds 14K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 12K shares, representing an increase of 15.72%. The firm increased its portfolio allocation in PSX by 8.65% over the last quarter.

Baker Tilly Financial holds 5K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing a decrease of 14.30%. The firm decreased its portfolio allocation in PSX by 22.20% over the last quarter.

Bangor Savings Bank holds 12K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 12K shares, representing a decrease of 3.30%. The firm increased its portfolio allocation in PSX by 93,275.99% over the last quarter.

Alta Advisers holds 1K shares representing 0.00% ownership of the company. No change in the last quarter.

Phillips 66 Declares $1.05 Dividend

On February 8, 2023 the company declared a regular quarterly dividend of $1.05 per share ($4.20 annualized). Shareholders of record as of February 21, 2023 received the payment on March 1, 2023. Previously, the company paid $0.97 per share.

At the current share price of $99.32 / share, the stock’s dividend yield is 4.23%. Looking back five years and taking a sample every week, the average dividend yield has been 4.26%, the lowest has been 2.43%, and the highest has been 8.55%. The standard deviation of yields is 1.07 (n=237).

The current dividend yield is 0.03 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.18. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.

Phillips 66 Background Information
(This description is provided by the company.)

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020.

See all Phillips 66 regulatory filings.

This article originally appeared on Fintel

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